Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) Short Interest Update

Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) saw a large drop in short interest in July. As of July 31st, there was short interest totaling 14,971 shares, a drop of 53.4% from the July 15th total of 32,098 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average trading volume of 28,249 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Investors Weigh In On Eco Wave Power Global AB (publ)

A hedge fund recently bought a new position in Eco Wave Power Global AB (publ) stock. SmartHarvest Portfolios LLC bought a new position in Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 13,361 shares of the company’s stock, valued at approximately $78,000. SmartHarvest Portfolios LLC owned approximately 0.24% of Eco Wave Power Global AB (publ) as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 0.57% of the company’s stock.

Eco Wave Power Global AB (publ) Stock Up 1.0%

WAVE stock opened at $7.15 on Friday. The firm has a market cap of $39.68 million, a price-to-earnings ratio of -11.92 and a beta of -0.35. Eco Wave Power Global AB has a 12-month low of $4.52 and a 12-month high of $10.87. The company’s fifty day simple moving average is $8.17 and its 200 day simple moving average is $7.13.

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02.

Analyst Ratings Changes

Several research firms have recently weighed in on WAVE. Weiss Ratings restated a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a report on Friday, July 17th. Wall Street Zen raised shares of Eco Wave Power Global AB (publ) to a “hold” rating in a report on Saturday, July 25th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

Eco Wave Power Global AB (publ) Company Profile

Eco Wave Power Global AB (publ) develops and commercializes technology that harnesses the energy of ocean and sea waves to generate electricity. The company’s modular, floating wave energy converters attach to existing maritime structures such as breakwaters and piers, converting vertical wave motion into electrical power through hydraulic systems and generators. This approach is designed to minimize environmental impact while delivering a predictable renewable energy source.

Founded in 2011 by CEO Inna Braverman, Eco Wave Power has secured patent protection for its core wave energy technology and completed its first grid-connected installation in Gibraltar in 2016.